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Treasury Metals Inc.
Summary
| Project: | Goliath | |
|---|---|---|
| Deposit: | Main Zone, C Zone | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 2/6/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 6-2-2017: Treasury Metals Inc. announces an Exploration/Drilling Update report for its Main Zone, C Zone deposit at the Goliath project. Drilling results incl. 7.0m @ 10.95g/t Au, 12.44g/t Ag from 544.0m. Treasury Metals Inc. (TSX: TML) is pleased to anno | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul Dunbar (Not Stated) | |
| ABSTRACT: | Treasury Metals Inc. (TSX: TML) is pleased to announce additional results from its infill drilling program at its 100% owned Goliath Gold Project located in Northwestern Ontario. Treasury's current drilling program is primarily focused on the conversion and expansion of underground "Inferred" Mineral Resources to the "Indicated" category that reside in and adjacent to the known Main Zone and C Zone gold-bearing shoots. Chris Stewart, President and Chief Executive Officer, commented: "Our infill diamond drilling program continues to deliver results for us in the underground including both attractive grades and widths. Over the last two months, we have been working diligently to assess and determine our best path forward towards gold production at the Goliath Gold Project. We will be in a position during February to provide the market with a detailed project update and development timeline putting us in a strong position to make a production decision during this phase and ultimately move into construction of the Goliath Gold Project." This program was designed by the Company and P&E Mining Consultants Inc. ("P&E") who prepared the 2015 NI 43-101 Mineral Resource Estimate for the Goliath Deposit (Press Release dated August 28, 2015). Fifteen of the original 20 "high priority" targets have been drill tested at vertical depths ranging from 330 m to 640 m from surface over a strike length of 950 m. Treasury is currently working with P&E to prioritize the next phase of diamond drilling of the main Mineral Resource area and northeast extension. Successful results of the program completed to date and the next phase of drilling should continue to enhance the underground Mineral Resources in the mine plan for future Feasibility level design studies. | |
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